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AGC releases construction investment impact data

Post Time:Dec 23,2008Classify:Industry NewsView:105

The Associated General Contractors of America, Arlington, Va.,released estimates on Tuesday of the impact of construction investment on jobs, gross domestic product and personal earnings for the U.S. and each state. The estimates show that $1 billion of infrastructure spending supports $3.4 billion of GDP, $1.1 billion of personal earnings and 28,500 jobs. Approximately 9,700 (34 percent) are direct construction jobs; 4,600 are indirect jobs in supplier industries (mining, manufacturing and services); and 14,300 (50 percent) are induced jobs resulting from purchases out of the additional income of workers and owners in the directly and indirectly supported industries. The ratios are drawn from a model prepared for the Federal Highway Administration, which found similar impacts for federal-aid highway spending. State totals are based on an analysis of each state’s share of total construction employment and spending for AGC by Prof. Stephen Fuller of George Mason University, according to a Dec. 19 Data DIGest report.

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